A financial institution needed to transform its customer-facing capabilities and make transactions more user-friendly. See how Deloitte helped leverage Cloud to deliver.
Commerzbank stands for fairness and competence. The promise they make to their customers is that they are always at their side. But just imagine. Up until now, their process meant including many different people who had a say in almost any credit approval with forms and applications sent back and forth, often on paper through Commerzbank's internal mail. No matter what the sum was, that took a couple weeks before the customer had certainty. It was clear they had to act.
Commerzbank approached Deloitte as a long-term partner who knows the bank and its systems in detail. With a request to design the solution that would not only speed up processes for mortgages and other kinds of credit approvals, but also help the bank optimize existing processes and set up and test new solutions more easily and quickly going forward.
"Commerzbank approached Deloitte as a long-term partner who knows the bank and its systems in detail."
Once the precise requirement profile for the new system was developed, it was clear that a cloud-based solution was the answer. This is Commerzbank’s first completely self-developed and trained deep learning network that runs as part of a loan application in the cloud, something that was built once but will be used many times in the future.
They were able to leverage the full potential of a joint team from three organizations. Google Cloud's market-leading machine learning technology allowed Commerzbank and Deloitte to shorten the product development cycle from months to weeks and now even days. At the same time, their built in security innovations enable Commerzbank to lift the post-drawn security and risk to new levels.
As a result, we improved the credit approval process, and now have a tried and tested way of setting up new projects quickly, developing MVPs in a targeted manner, and incorporating them into the overall processes. The success of this project was very important for Commerzbank because it works as a key element to help transform their capabilities and deliver on their vision, meeting the needs of their customers quickly, safely, and reliably today and tomorrow.
By the numbers
Leveraged Google Cloud’s market-leading machine learning technology to shorten the product development cycle from months to weeks and now even days.
Utilized the full potential of a joint team from three organizations: Google Cloud, Commerzbank, and Deloitte.